Life Insurance - No one knows what’s around the corner – so it pays to be prepared

No one knows what’s around the corner – so it pays to be prepared

Even the best-planned life can come undone by illness, accident or even death – and often with far-reaching consequences for those who depend on us, such as our family or business partners. Having the safety net of life insurance in place is critical to ensure that if you’re no longer around, those who depend on you can keep going without you.

You can also add extra cover to protect your financial future if you get seriously ill or injured, or become permanently disabled.

Who should consider it?

Life insurance is recommended for business owners and anyone who has financial dependants.

However, even those without dependants could benefit from a Life Insurance payout if they become terminally ill. What’s more, total and permanent disability (TPD) cover can provide a payment if you become permanently disabled.

What can it cover?

Life Insurance can provide an agreed lump sum payment if the insured person dies or becomes permanently disabled. There are a range of different life products, which include:

Life Insurance

Trauma Insurance

Key Person Cover

Income Protection

Mortgage Repayments

Speak to a Steadfast Insurance broker

You never know what the future may hold so it’s important to make sure those who depend on you have a safety net. To find out more about your life insurance options, talk to your Steadfast insurance broker at Cartwrights today. They can help you choose the right type and amount of cover for your circumstances.

Case Study

Sean and Diane had been married for eight years and had two small children. Diane, who had recently gone back to work, was diagnosed with an aggressive cancer.

Diane passed away only six months after her diagnosis. Both she and Sean had taken out life insurance after they got married. When they realised that Diane’s diagnosis was terminal, they made a claim to receive a payout, which was successful.

This meant that Sean could take time off work to care for his wife in her last few months. Sean then used some of the payout to fill the income-gap while he worked part-time, so he could spend more time with his children after the loss of their mother.